Pre-application deadline is July 22.

SAVANNAH, Mo. –Unemployed or underemployed homeowners may be able to avoid foreclosure with help from a U.S. Department of Housing and Urban Development program, said a University of Missouri Extension family financial education specialist.

The Emergency Homeowner Loan Program (EHLP) provides a forgivable bridge loan of up to $50,000 to pay mortgage, tax and insurance bills for up to two years, said Rebecca J. Travnichek. Eligibility requirements for the program include being unemployed or underemployed due to job loss or a serious medical condition and being at least 90 days behind on mortgage payments.

Unemployed or underemployed homeowners affected by the current flooding in northwest Missouri, if they meet EHLP guidelines, may qualify for this program, Travnichek said.

Homeowners must submit a pre-application through a HUD-approved housing counseling agency by July 22. Visit www.findehlp.org or call 855-346-3345 to apply. Program funds are limited, so not all eligible applicants may receive EHLP loans.

“I strongly recommend visiting with an EHLP counselor to be sure you meet the requirements for the program,” Travnichek said. “EHLP housing counselors are trained to help you.”

“This is a pre-application process,” notes Travnichek. “Success in the initial process will lead to a more detailed and involved application.” She encourages homeowners to consider taking time to pursue this program. “Using a bit of your time now in the application process would be well worth it, as it is a chance to avoid foreclosure.”